Bosnia's largest engineering group Energoinvest has clinched a new $52 million deal with Libya to build power transmission lines and a transformer station, General Manager Dzemail Vlahovljak said on Wednesday.
Vlahovljak said Energoinvest has now secured projects amounting to over 120 million euros ($172.7 million) in Libya and projects worth some 60 million euros in Algiers, its traditional markets from before the 1992-95 war. He said that Energoinvest results were influenced by US dollar weakness and rising oil prices.
Energoinvest's preliminary results for 2007 showed revenues of 319.5 million Bosnian marka ($235.3 million) and profits of 2.7 million marka, compared with 2006 revenues of 306.1 million marka and profits of 2.5 million marka.